 Overall, the forex markets are very cautious for now, awaiting the key events of the week, including Eurozone CPI flash today and US non-farm payrolls on Friday. There is no breakthrough in the unrest in China, with reports of escalation in protests in manufacturing center of Guangzhou. Yen and Dollar are now the stronger ones fro the week, followed by Euro. Canadian Dollar is the worst performer, following the selloff overnight. Sterling and Aussie are the next weakest. Technically, EUR/CHF is worth a watch today with Eurozone CPI featured. The price actions from 0.9720 are corrective looking so far, suggesting that it's merely the second leg of the corrective pattern from 0.9953 short term top. That is, in case of further rise, upside would likely be capped by 0.9953 to bring the third leg. In case of deeper decline, some support might be seen around 0.9720 to contain downside. That is, range trading should continue for a while, unless, something substantial happens. In Asia, at the time of writing, Nikkei is down -0.37%. Hong Kong HSI is up 0.84%. China Shanghai SSE is up 0.18%. Singapore Strait Times is up 0.03%. Japan 10-year JGB yield is up 0.003 at 0.257. Overnight, DOW rose 0.01%. S&P 500 dropped -0.16%. NASDAQ dropped -0.59%. 10-year yield rose 0.045 to 3.748. |
